00:00Companies have donated a record US$646 million to political campaigns in the 18th month through June,
00:08according to watchdog group Public Citizen.
00:10That's 40% more than corporate political spending during the entire 2024 US presidential election cycle.
00:20Major contributors included manufacturing conglomerate, Coke Incorporated,
00:24and online sports betting companies which donated about US$76 million ahead of the November elections.
00:31Betting companies supported candidates from both major parties,
00:35while tobacco and cannabis firms also donated heavily,
00:38with most of their contributions favouring Republicans.
00:42The group also reported an increase in contributions to political action committees
00:46supporting Republicans as the party seeks to retain control of both chambers of Congress.
00:52Corporate political spending has increased sharply since the US Supreme Court
00:57removed several restrictions on campaign spending in 2010.
01:01The ruling allowed companies and wealthy individuals to provide unlimited funding
01:05to independent political groups, with corporate donations reaching about $1.7 billion since.
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